Island Ribhouse Leases Retail Space In Crown Heights From The Loketch Group For $30/ft
611 Nostrand Avenue
$30
$30/SF
Building Size
2,250 SF
Asset Type
Retail
Closing
Feb 1, 2023
About this deal
AI
The retail property located at 611 Nostrand Avenue in Crown Heights has been leased by Island Ribhouse. The property, owned by The Loketch Group, was represented by broker Josh Augenbaum of Augenbaum Realty. The lease term is set for 10 years with an asking rent of $30 per square foot for a total of 2,250 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Lease
- Tenant: Island Ribhouse
- Landlord: The Loketch Group
- Broker: Josh Augenbaum - Augenbaum Realty
- Asking Rent: $30/ft
- Square Footage: 2,250
- Lease Term: 10 years
Josh Augenbaum from Augenbaum Realty served as the representative for The Loketch Group in this lease deal. Island Ribhouse is set to occupy the retail space at 611 Nostrand Avenue for the next 10 years. The lease agreement was made with an asking rent of $30 per square foot, totaling 2,250 square feet.
On the Map
$30
$30/SF
Retail
View full map
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Visit Josh Augenbaum to view all their deals.
Browse Brooklyn retail leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
528766.67%
Cash-on-Cash
-151123.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93